Ramani was found hanging in the room, while Nagabhushan was found hanging in the hall.

Inspector G N Mohan said Nagabhushan's son Damodar admitted to have driven his family to heavy debts by borrowing money to finance his vices. The family had a debt of nearly Rs 50 lakh. They had recently cleared half of the debt by selling their house and had shifted into a rented house nearby.

Nagabhushan Char, a goldsmith, had a shop in Mysore and was also associated with a bank. His 25-year-old son Damodar was also working for a bank.

The police found a bottle with some toxic liquid and two used glasses in the kitchen.

Police suspect the couple may have killed themselves 9.30 pm and 10.30 pm on Wednesday after Damodar spoke to his father. The suicides came to light when one of his friends came to his house. Damodar and his sister Anitha had left home in the evening.